TE Shakedown

TE SHAKEDOWN

1/1/2018

Happy New Years! 2017 is officially in the books and what a year it was with the S&P closing up 18.5% and the Nasdaq closing the year up a whopping 30.6%. I expect we'll see a ton of sector rotation in the coming weeks which could set the tone for the first quarter. I want to see where the money goes as we enter the new year, so my eyes will be focused on looking for relative strength.

No telling what happens in the first few weeks of the year as earnings season approaches. In the past I've seen many different situations arise from extreme choppiness to massive selling to outright buying -- so we will have to wait & see what the new year brings. 

ATHM Long

ATHM with a nice week of consolidation right underneath its massive $66 resistance level. Want to see big time volume in this Chinese mover. 

Trigger: $66

Stop: $63.99

Target: $74-76+

Hope to see you in the chat Tuesday.

Let's have a year!


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